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ExxonMobil and Climate Change: A Story of Denial, Delay, and Delusion, Told in Forms

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This is the fifth installment of our series analyzing how Exxon Mobil Corporation has communicated to its shareholders the risks associated with climate change over the last two and a half decades, using the company’s annual 10-K reports to the Securities and Exchange Commission (SEC). The sixth and final installment covering the years 2012 – 2016 will be published within the next two weeks.

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Those who have generally been mystified by the overwhelming effectiveness of the fossil fuel-funded denial machine in shaping public opinion will be equally as mystified by the fact that several scientists often asked to testify before Congress and provide their expert views for purposes of policymaking were summarily outed as shills for oil and gas companies. One comprehensive analysis conducted by Carbon Brief in 2011 determined that, out of a pool of 938 published scientific papers casting doubt on the veracity of climate change, the authors of nine out of ten of these papers had a connection with the Exxon Mobil Corporation. Of the total, 186 papers were written by just 10 authors

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ExxonMobil has always been two-faced regarding climate change and the role of fossil fuels. The company will, at times, say one thing and do another, such as voicing support for a carbon tax but then lobbying against such a tax when one is actually being considered in Congress.

...ExxonMobil’s 2011 10-K Report to the SEC

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Just as in its 2010 10-K report, ExxonMobil says the following about climate change, language that is identical to the 2010 filing:

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Throughout ExxonMobil’s businesses, new and ongoing measures are taken to prevent and minimize the impact of our operations on air, water and ground. These include a significant investment in refining infrastructure and technology to manufacture clean fuels as well as projects to monitor and reduce nitrogen oxide, sulfur oxide, and greenhouse gas emissions (emphasis added) and expenditures for asset retirement obligations.

Under a section titled “Regulatory and litigation risks” the company says: “Even in countries with well-developed legal systems where ExxonMobil does business, we remain exposed to changes in law (including changes that result from international treaties and accords) that could adversely affect our results, such as: changes in environmental regulations or other laws that increase our cost of compliance or reduce or delay available business opportunities (including changes in laws related to offshore drilling operations, water use, or hydraulic fracturing); and adoption of regulations mandating the use of alternative fuels or uncompetitive fuel components” (among other factors). Thus, ExxonMobil continues to view public policies regulating fracking or reducing greenhouse gas emissions as a risk to its operations, not a reduction of the climate threat, per se.

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Most notably and possibly the most damning piece of evidence against ExxonMobil, in terms of demonstrating that it was aware of the climate threat and yet did not warn shareholders, was its decision to enter into an agreement with Russia in August 2011 to explore for oil in the Arctic Ocean off the coast of Russia. What made this possible is the melting ice; the warmer conditions making drilling in this area possible. Oil and gas exploration in the Arctic Ocean had begun to look more attractive after conditions changed; areas typically covered by ice more than nine months of the year were melting and offering less hostile conditions. Said one observer, “Exxon has realized that a warming planet offers some new opportunities for profit and is adjusting its strategic decisions accordingly.”

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This was a strategic decision, alright, but one that strategically chooses profit over people and the planet.

Re: ExxonMobil and Climate Change: A Story of Denial, Delay, and Delusion, Told in Fo

Climate change is a left wing Hoax.

Mobile Exon helps power your world.

Corporations are evil, because your left wing masters say so..

You live in what will forever be known as "the oil age" in our history. We will newer run out of the stuff the earth makes continuously.

The Earth is fine. It just has some anxious people on board. They need some thing to worry about, other than Donald Trump.... The Earth gives them something really big to worry about... You can get meds to help with the small mental health issue, and stop the worrying.

Or change parties and mindsets.

Regards, Kirk

The Following User Says Thank You to 300 H and H For This Useful Post:

Re: ExxonMobil and Climate Change: A Story of Denial, Delay, and Delusion, Told in Fo

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Originally Posted by 300 H and H

Climate change is a left wing Hoax.

Mobile Exon helps power your world.

Corporations are evil, because your left wing masters say so..

You live in what will forever be known as "the oil age" in our history. We will newer run out of the stuff the earth makes continuously.

The Earth is fine. It just has some anxious people on board. They need some thing to worry about, other than Donald Trump.... The Earth gives them something really big to worry about... You can get meds to help with the small mental health issue, and stop the worrying.

Re: ExxonMobil and Climate Change: A Story of Denial, Delay, and Delusion, Told in Fo

Even if the whole world was to accept the loony leftist eco-tard belief of man made climate change instead of natural climate change. Exxon Mobil wouldn't become broke. Nor would people stop using oil. Our planes, trains, diesel trucks, and cargo ships all use oil. Many of our products that are not fuel or lubricants are almost made with oil. Even if you drive an electric car or use a bicycle you still depend on oil because all the products you buy depend on oil to take it from point a to point b.

__________________
"There can be no divided allegiance here. Any man who says he is an American, but something else also, isn’t an American at all. We have room for but one flag, the American flag… We have room for but one language here, and that is the English language… and we have room for but one sole loyalty and that is a loyalty to the American people.”—Theodore Roosevelt

Re: ExxonMobil and Climate Change: A Story of Denial, Delay, and Delusion, Told in Fo

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Originally Posted by jamesrage

Even if the whole world was to accept the loony leftist eco-tard belief of man made climate change instead of natural climate change. Exxon Mobil wouldn't become broke. Nor would people stop using oil. Our planes, trains, diesel trucks, and cargo ships all use oil. Many of our products that are not fuel or lubricants are almost made with oil. Even if you drive an electric car or use a bicycle you still depend on oil because all the products you buy depend on oil to take it from point a to point b.

Re: ExxonMobil and Climate Change: A Story of Denial, Delay, and Delusion, Told in Fo

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Originally Posted by jamesrage

Even if the whole world was to accept the loony leftist eco-tard belief of man made climate change instead of natural climate change.

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Originally Posted by jamesrage

Exxon Mobil wouldn't become broke. Nor would people stop using oil. Our planes, trains, diesel trucks, and cargo ships all use oil. Many of our products that are not fuel or lubricants are almost made with oil. Even if you drive an electric car or use a bicycle you still depend on oil because all the products you buy depend on oil to take it from point a to point b.

I know of no one who has said there is NO natural climate change, only that mankind has added a hell of a lot to this change of climate - and this damn nonsense about what "LIBS" say and believe???

Re: ExxonMobil and Climate Change: A Story of Denial, Delay, and Delusion, Told in Fo

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Originally Posted by Uncle Jim

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I know of no one who has said there is NO natural climate change,

Judging by the way man made global warming fairy tale believers act its as though they think that the earth is not supposed to be getting warmer or that climate change can't happen.

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only that mankind has added a hell of a lot to this change of climate - and this damn nonsense about what "LIBS" say and believe???

What percentage of climate change is currently man made?

__________________
"There can be no divided allegiance here. Any man who says he is an American, but something else also, isn’t an American at all. We have room for but one flag, the American flag… We have room for but one language here, and that is the English language… and we have room for but one sole loyalty and that is a loyalty to the American people.”—Theodore Roosevelt